... no we didn't miss a zero

The administrator of 2e2 has recouped just a tiny fraction of the debts owed to the integrator, a Progress Report has revealed.

FTI Consulting took control of the company's affairs January '13 in the well-documented collapse. By March last year, it had struggled to recover one-tenth of the £43m on the debt ledger at its appointment.

So in came debt recovery specialists JP Associates to pursue outstanding monies owed. But as the report revealed, in the six months from July it uncovered just another £2k.

"The only realisation during the period for 2e2 Ltd is the receipt of a refund of circa £2,000 in respect of certain expenses that were prepaid prior to the administration," the report stated.

As a result, no receipts or payment accounts were prepared for the Holdings, Investments or Group firms, because "there have been no realisations into the administration estates of these companies," the report added.